Heidrick & Struggles to Name Wolstencroft as its Next Chief Executive

January 30, 2014 – Sources close to the executive search committee at Heidrick & Struggles have said they expect the firm to name Tracy R. Wolstencroft as its next chief executive after an exhaustive, months-long hunt to find a new leader. Mr. Wolstencroft, a 25-year former Goldman Sachs executive who was managing director and head of Goldman's municipal finance and infrastructure group, retired from the investment giant in 2010. A Greenwich, Conn resident, Mr. Wolstencroft privately accepted Heidrick's offer earlier this week, said sources. After a search that lasted roughly six months following the resignation of former chief Kevin Kelly — and was rumored to have had several turn downs from top candidates including one high level former McKinsey executive — the firm turned to Mr. Wolstencroft who was personally known to some of the firm's key management. Known as a professional with exceptional client relationship skills, Mr. Wolstencroft will have to quickly learn the search business and the dynamics of running a public professional services company. "It's an incredibly challenging job," said Christopher W. Hunt, president of Greenwich-based HSZ Media, a market research firm that tracks the global talent management sector. "He will need to dive into the trenches on day one and stabilize a brand that has been hit hard with significant financial and partner losses during the last three years."